Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation … Read more

Uzbekistan warms up to Bitcoin mining, but there’s a catch

The National Agency of Prospective Projects (NAPP) in the 34-million nation of Uzbekistan enunciated its demands toward the crypto mining operators. It would only allow the companies that use solar energy to mine Bitcoin (BTC) or other cryptocurrencies.  The normative act on the government page, dated June 24, prescribes the confirmation of “Guidelines on the … Read more

Bitcoin mining revenue mirrors 2021 lows, right before BTC breached $69K

Bitcoin (BTC) visiting the $20,000 range after one and a half years made mining — the most important job of the ecosystem — a costly affair. However, if history were to repeat itself, BTC investors may witness another epic bull run that previously helped Bitcoin reach an all-time high of $69,000. Changes in Bitcoin prices … Read more

Bitcoin miners sold their entire May harvest: report

The cryptocurrency market entered a sell-off phase in the first week of June, seeing a market-wide route with the majority of cryptocurrencies falling to a 4-year low. The decorating market conditions have also affected Bitcoin (BTC) mining profitability adversely, forcing miners to liquidate their BTC holdings. New data from Arcane research shows that public Bitcoin … Read more

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Numerous governments have tried to ban Bitcoin mining, but data and insights from those in the mining industry suggest that this is easier said than done. In the summer of 2021, the Chinese government banned Bitcoin mining and cited the typical concerns of harmful environmental effects and money laundering. Now, the Chinese government is working … Read more

Kazakhstan’s central bank ‘isn’t going to ignore’ the crypto market

While Kazakhstan’s government is catching up with the tremendous volume of crypto mining in the country by introducing new taxes and regulations, the local central bank intends to explore the possibilities that crypto offers.  On Tuesday, June 7 during the press conference the chairman of Kazakhstan’s National Bank Galymzhan Pirmatov stated that the nation aims … Read more

Law Decoded, May 30–June 6: Terra’s aftermath in China, Japan and South Korea

The “long waves” of TerraUSD’s May 7 collapse, which we noted two newsletters ago, are extending even further. Last week brought some notable reactions to the stablecoin’s depegging in the East Asia region.  A Chinese state-owned media outlet, the Economic Daily has signaled that the Chinese government may introduce even tighter regulations on cryptocurrencies and … Read more

US energy company opens crypto mining facility in Middle East to use stranded natural gas

As the heated up discussion around the ethical aspects of using fossil fuels in crypto mining remains one of the key topics for the industry, an unexpected partnership between a Denver-based mining company and the government of a gas-rich Middle Eastern country sets a horizon for a positive role of crypto in cutting the fossil … Read more

Tax guidelines for crypto mining pass the first reading in Kazakhstan

Kazakhstan, one of the global leaders in crypto mining with a recent history of hostile measures against the industry, is taking a step toward a comprehensive fiscal framework for mining operators.  On Thursday, May 25, the lower chamber of Kazakh parliament, Mejlis, passed in the first reading the amendments to the national tax code, regulating … Read more

Study: Amid Mining Bans, China Still Commands World’s Second-Largest Share of Bitcoin Hashrate – Mining Bitcoin News

New data stemming from the latest Cambridge Centre for Alternative Finance (CCAF) report on bitcoin mining indicates that China still holds the second position in terms of global hashrate. While China commands close to 22% of Bitcoin’s global hashrate, the United States currently dominates with 37.69%, according to CCAF researchers. China Is Still the World’s … Read more